CBRE Group (NYSE: CBG ) reported earnings on Oct. 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), CBRE Group missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
CBRE Group chalked up revenue of $1.56 billion. The five analysts polled by S&P Capital IQ predicted sales of $1.69 billion on the same basis. GAAP reported sales were 1.5% higher than the prior-year quarter's $1.53 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.26. The six earnings estimates compiled by S&P Capital IQ anticipated $0.33 per share. GAAP EPS of $0.12 for Q3 were 40% lower than the prior-year quarter's $0.20 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 41.2%, 50 basis points worse than the prior-year quarter. Operating margin was 7.7%, 210 basis points worse than the prior-year quarter. Net margin was 2.6%, 160 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.91 billion. On the bottom line, the average EPS estimate is $0.48.
Next year's average estimate for revenue is $6.58 billion. The average EPS estimate is $1.21.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CBRE Group is outperform, with an average price target of $22.40.
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